"I do not think it would be right for me to be the captain that steers our country to the next destination."

He added that the process would require "strong, determined and committed leadership", noting that it would also necessitate the full engagement of the Scottish, Welsh and Northern Irish governments.

And Cameron also sought to reassure the businesses both inside and outside of the UK, describing Britain's economy as "fundamentally strong" and saying that little would change immediately on the ability of firms to trade across Europe.